Tammy Murphy, e-PRO REALTOR, Exit Realty Partners

Archive for the "Facing Foreclosure" Category

Slowly, the steps to making some progress are being recognized and put into implementation! The following article at least provides for the opportunity of a home owner or tenant who is in a property to be foreclosed to be able to RENT the property (month-to-month.) While not a permanent fix – it does help to provide a little extra time to make other arrangements…if you need help in finding more details – call Tammy at 937-838-0997.

Daily Real Estate News | March 6, 2009 |

Freddie Mac Launches Rental InitiativeFreddie Mac is launching a rental initiative, which will give former owners and tenants of foreclosed property the opportunity to lease their recently foreclosed properties month to month.

The REO rental initiative will be managed by HomeSteps, Freddie Mac’s national real estate unit, and implemented through several national property management firms. Freddie Mac has about 8,500 properties in various stages of foreclosure.

Freddie Mac also will continue to suspend evictions through March 31 to ensure that former owners and occupants have an opportunity to explore new options available to them.

To qualify for a lease, the tenant or former owner must occupy the property and show they have adequate income to pay the monthly rental amount established by the property management company based on market rents for the area. Occupants must agree to allow HomeSteps to show the home to potential buyers during the lease period.

The best advice I can give is to ASK QUESTIONS – Lots of Questions and even the SAME Questions to MULTIPLE Lenders to help ensure you are getting the best refinance for your mortgage. And remember, if you are getting a smaller decrease in the interest rate from what you have now and you don’t plan to live in the house for at least 3 more years – it may NOT be worth the refinance. I am happy to provide you with contacts in the mortgage business that I have found to be trust-worthy and who have worked well with my clients – but whatever you do, talk to them IN PERSON. The internet makes our life easier in many ways, but what I hear over and over is BEWARE OF INTERNET LENDERS. Maybe Not always the case – but I’d rather anyone I know be on the safer side of the transaction by dealing with someone they can actually talk with personally. The following sites have helpful questions for you to ask…

An easy to use, step-by-step guide has been designed to give you the tools you need (no matter what your level of computer skills – you’ll be able to use our simple forms and call scripts!) It could be the best $20 you spend! ORDER HERE :

No more submissions accepted at this time.

Being INFORMED is the best tool you can have to begin to face your fear of a pending foreclosure. It is also the only way that you can FIGHT FORECLOSURE. Many people that I have talked with, simply did not have the basic information that they needed to try and STOP the Foreclosure, and then they are faced with the humiliation of all that transpires and the need to find someplace else to live.

So much goes on and yet – there is HELP and if you are interested in finding out what you can do: either to sell the property before the foreclosure, save your property from foreclosure, or if you just want to take control over your life again after foreclosure – CLICK HERE to send me a confidential email.

Are you wanting more information on the HR 3221 bill? This SUMMARY will help explain the details in terms you can understand – all in all, it looks like a very good deal that is needed to help get the overall housing market back on track. CLICK HERE to read the Summary.

As a Realtor, we are asked to “voice our opinion” and try to lobby for things within the real estate market that need to be protected / preserved / changed / updated / done away with. Many times – the result of our one voice may seem lost in the multitude of so many others – but here is a reply I received today that I thought I would share. Preserving one’s ability to buy the American Dream is what have been fighting for! Click to read more

Facing Foreclosure is not an easy thing to endure; along with the personal embarrassment you may feel and lack of self confidence to take care of your family – the added stress from not knowing where to turn seems impossible to overcome. You’re getting mail from strangers who “promise the world” only to find out they require money up front or they turn out not to be able to answer your questions. Now that you are feeling like the bunny looking for shelter from the hawk – let me again assure you – THERE IS HOPE. While speaking with your lender is vital – finding an organization that can support you locally is just as beneficial. The Community Action Partnership is our local organization that has programs in place and personnel trained to assist those in financial need. Not necessarily a “hand-out” but the ability to work with you and the current lender or even in finding a new lender to work with you – the support and guidance you receive from them could help give you the restful nights sleep you need and the hope for facing the future of tomorrow. Fighting together to make the American Dream your reality is the key to not having to give up, if you have more questions about this program or any other concerns about foreclosure – please give me a call. Our discussion will be in confidence, candid and most likely very helpful for what you are trying to accomplish. Hang in there – there are concerned people who do not want to take advantage of you or your situation – you just need to let us know about your plight.

Times have been challenging for most people and with the media coverage constantly talking about all the negative effects of economic changes – you probably feel like it’s all overwhelming. But you also probably still feel like you are alone in all of this and maybe that is because of your generation or because of personality. You must fight the urge to take cover and hide from your existence! There is HELP only if you reach out and let someone know the details so they can help.

Are you just falling behind – not yet in the Foreclosure process?

First Step – call Your Mortgage Company – Loss Mitigation Department or Customer Servic. Do Not Be Embarrassed to speak with them and see what they offer for alternative payment options. They “should” be willing to work with you to keep you in your home and to maintain the mortgage.

If NOT or you are beyond any assistance they offer – CALL ME. I may know someone or be able to find someone to better assist you at this point – BEFORE YOU LOOSE THE HOUSE. If all else fails and we need to SELL the House – we want to work FAST so that we can avoid the Foreclosure on your record. (Bankruptcies are more forgiving on your record than a Foreclosure – so avoid this however necessary!)

The City / County may also have sources of Help – I can put you in contact with these programs.

Are you about to have that ARM adjust / or has it already adjusted and NOW you’ll be having a problem?

This is where the FHA program that has been introduced may be able to assist you. They have very specific guidelines (must have been current and never late on a payment for the prior 12 months and only fallen behind due to the Rate Adjustment…) Again, either myself or others in the industry will be able to help direct you at this point.

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